"Our team executed well in the fourth quarter and made important progress in building sustainable new revenue streams and further aligning our company around our best growth opportunities," said David Ko, Zynga’s chief operations officer.

Shares of Zynga, which closed up 7% in regular trade, climbed another 7% to $2.89 after hours. They got a boost earlier in the day by an upgrade to “buy” from Bank of America (BAC).

Zynga, which launched six new titles during the quarter, including CityVille 2, said it is looking toward fiscal 2013, noting it will be a transition year as it focuses on growing its mobile and web presence and expanding its network and profitability.

Looking toward the first quarter, Zynga sees revenue in the range of $255 million to $265 million and a loss per share of 4 cents to 2 cents. Analysts on average are calling for a loss of a penny on sales of $240 million.

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U.S. stocks ended down on Tuesday in a retreat from the previous session's sharp rally as energy shares declined and the dollar edged up, but the S&P 500 and Nasdaq registered their ninth straight quarterly rise.